Summer Blend of Fuel, Tensions Overseas Cause Jump in Cost

Summer Blend of Fuel, Tensions Overseas Cause Jump in Cost

High demand and rise in oil prices could push prices higher
Valerie Puma
High demand and rise in oil prices could push prices higher

Today’s national average price for a gallon of gasoline is $3.68, up five cents from last Monday. One year ago, the price was $3.67. The New York State average is $3.69, up 18 cents from one week ago. A year ago, the NYS average was also $3.69. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia - $3.54 (up 10 cents from last Monday)
  • Buffalo - $3.56 (up 12 cents from last Monday)
  • Elmira - $3.60 (up 16 cents from last Monday)
  • Ithaca - $3.66 (up 15 cents from last Monday)
  • Rochester - $3.60 (up 12 cents from last Monday)
  • Rome - $3.69 (up 8 cents from last Monday)
  • Syracuse - $3.60 (up 11 cents from last Monday)
  • Watertown - $3.76 (up 15 cents from last Monday)

Gas prices have risen significantly over the past few weeks as regions return to the more expensive summer blend of fuel and tensions overseas led to the recent rise of oil prices. We are closely monitoring geopolitical issues that could impact the oil markets. This week, the cost of crude oil has since fallen back down to the mid-$80s per barrel as the oil market watches for any further military actions.

According to new data from the Energy Information Administration (EIA), gas demand rose slightly last week while total domestic stocks decreased slightly. Higher demand and a rise in oil prices could push pump prices higher. It is not unusual to see a lull in gasoline demand this time of year, between the end of spring breaks and ahead of the Memorial Day holiday. The national average for gas may continue to waffle with small increases, some flat days, and even some price dips over the next few weeks.

Diesel prices remain relatively steady. The national average price for diesel is $4.03, down one cent from last Monday. The New York average is $4.40, up one cent from a week ago.

To conserve fuel, motorists should map routes, avoid peak traffic times like rush hour, and combine errands into one trip while using cruise control when possible. Drivers should also make sure tire pressure is at the vehicle’s recommended level for the best gas mileage while removing any unnecessary and bulky items from the car since it takes more fuel to accelerate a heavy vehicle. Get more tips here: https://gasprices.aaa.com/news/fuel-saving-tips/. Motorists can benefit from comparing pump prices before filling up with the AAA Mobile App for iPhone, iPad, and Android. 

AAA members receive discounts at gas stations such as Fastrac, Maple Leaf Market and Shell. Learn more here. AAA members can save on gas by joining the Fuel Rewards at Shell program. Join now at AAA.com/Shell. Motorists can also locate gas prices across the country and stay up-to-date on news and fuel-saving tips at http://gasprices.AAA.com.